As is apparent, total UK debt outstanding has risen significantly in the last
decade. This has been the result of the UK government borrowing an average of
£94 billion a year from 2008/09 to 2018/19, although it is running at a somewhat
lower rate than this at present. It is this borrowing that has led to total gross UK
government debt outstanding before quantitative easing is taken into account of
in excess of £1,800 billion. The important point to note is that this average sum
borrowed per annum shows that the UK government has the capacity to borrow
at least £100 billion a year.
The bank’s willing to finance my 80% of income overdraft therefore they’ll be copacetic financing my 180% of income overdraft.